Economic Growth, Economic Development and sustainable Development – Importance of institutions – Government and markets – Perpetuation of underdevelopment – Vicious circle of poverty, circular causation, structural view of underdevelopment – Measurement of development conventional, HDI and quality of life indices.

Trade and Aid – International trade as ‘engine of growth’ – Globalization and LDC’s Objectives and role of monetary and fiscal policies in economic development Techniques of planning; Plan Models in India; planning in a market – oriented economy.

4. Public Finance

Role of the Government in Economic activity – Allocation, distribution and stabilization functions; Private, Public and Merit goods.

The Public Budgets – Kinds of Budgets, Zero – base budgeting, different concepts of budget deficits; Budgets of the Union Government in India Public Expenditure – Hypotheses; effects and evaluation.

Public Revenue – Different approaches to the division of tax burden, incidence and effects of taxation; elasticity and buoyancy; taxable capacity Public Debt – Sources, effects, burden and its management.

Theories of International Trade: Empirical verification and Relevance International Trade under Imperfect competition Terms of Trade and Economic Growth – Secular Deterioration of Terms of Trade Hypothesis – a critical review.

Equilibrium / disequilibrium in Balance of Payment – Traditional, Absorption and Monetary approaches for adjustment in the Balance of Payments, Foreign Trade multiplier.

Impact of Tariffs, Partial and general equilibrium analysis; Political economy of Non-Tariff Barriers.

UGC NET Paper-2 Syllabus Continues

The following part of the UGC NET syllabus were previously under UGC NET Paper-3 (Part-A), however, as UGC has now only two papers i.e. UGC NET Paper-1 which is general and compulsory for all subjects and UGC NET Paper-2 on the specific subject (including all electives, without options) instead of previous three papers i.e. UGC NET Paper-1 which was general and compulsory for all subjects and UGC NET Paper-2 and Paper-3 on the specific subject, so, now-a-days, the following part is also considered as part of the UGC NET Paper-2 syllabus.

Theories of growth and development – Models of growth of Joan Robinson and Kaldor; Technical Progress – Hicks, Harrod and learning by doing, production function approach to the determinants of growth : Endogenous growth : role of education, research and knowledge – explanation of cross country differentials in economic development and growth.

Role of State in environmental preservation – Review of environmental legislation in India.

Unit – IX

Role of Agriculture in Indian Economy – Share of Agriculture, interrelationship between agriculture and industry.

Institutional aspects – Land reforms, Green revolution.

Technological aspects – Agricultural inputs and shifts in production function.

Capital formation in the rural sector – Savings, assets and credits.

Strategies for rural development.

Regional disparities in Indian agriculture.

Cooperative movement in India – Organization, structure and development of different types of cooperatives in India.

Unit – X

Application of Differential and Integral Calculus in theories of consumer behaviour, Production and pricing under different market conditions.

Input – output analysis and linear programming.

Application of Correlation and Regression.

Testing of Hypothesis in Regression Analysis.

UGC NET Paper-2 Syllabus Continues

The following part of the UGC NET syllabus were previously under UGC NET Paper-3 (Part-B), however, as UGC has now only two papers i.e. UGC NET Paper-1 which is general and compulsory for all subjects and UGC NET Paper-2 on the specific subject (including all electives, without options) instead of previous three papers i.e. UGC NET Paper-1 which was general and compulsory for all subjects and UGC NET Paper-2 and Paper-3 on the specific subject, so, now-a-days, the following part is also considered as part of the UGC NET Paper-2 syllabus.

Question Pattern of UGC NET in Economics

There will be two question papers of UGC NET Examination in Economics i.e. Paper-1 and Paper-2. UGC NET Paper-1 is general and compulsory for all subjects whereas UGC NET Paper-2 on the specific subject i.e. Economics (including all electives, without options). The UGC NET Paper-1 will have 50 questions and 100 marks whereas Paper-2 will have 100 questions and 200 marks. The objective type questions will include ascending/ descending type question, multiple choices, multiple answers (checkbox), matching type, true / false, assertion-reasoning type, and comprehension type questions.

Economics: Economics is the social science that studies the behavior of individuals, households, and organizations (called economic actors, players, or agents), when they manage or use scarce resources, which have alternative uses, to achieve desired ends. Agents are assumed to act rationally, have multiple desirable ends in sight, limited resources to obtain these ends, a set of stable preferences, a definite overall guiding objective, and the capability of making a choice. There exists an economic problem, subject to study by economic science, when a decision (choice) has to be made by one or more resource-controlling players to attain the best possible outcome under bounded rational conditions. In other words, resource-controlling agents must maximize value subject to the constraints imposed by the information the agents have, their cognitive limitations, and the finite amount of time they have to make and execute a decision. Economic science centers on the activities of the economic agents that comprise society. They are the focus of economic analysis. The traditional concern of economics is to gain an understanding of the processes that govern the production, distribution and consumption of goods and services in an exchange economy. An agent may have purposes or ends, such as reducing or protecting individuals from crime, on which he or she wants to spend resources. Economics may study how the agent determines the amount of resources to allocate for this purpose, aside from the traditional concern of economics.